WETHERSFIELD, CT (WFSB) — On Tuesday afternoon, Gov. Ned Lamont joined other leaders to make an announcement about the Unemployment Insurance Trust Fund.
State lawmakers want to help businesses devastated by the pandemic.
They’re replenishing the state’s Unemployment Insurance Trust Fund, which will help businesses line their pockets.
A proposed bill will lower taxes for 73 percent of businesses across the state, lessening their burden.
The bill aims to put more than $100 million into an Unemployment Insurance Trust Fund that has run dry in recent years.
To do that, the bill changes the taxable wage base, the unemployment threshold, as well as exhausting severance before collecting unemployment.
Lawmakers say most businesses don’t use the trust fund, so they’ll end up paying lower taxes.
“Members have demanded for years for more predictability, more stability, more certainty so that they can plan their businesses and that’s exactly was this has done. It brings predictability and stability to a very broken fund,” said Chris DiPentima, CEO of the Connecticut Business & Industry Association
The bill is expected to pass out of committee sometime this week.
If signed, parts of it would go into effect as early as this year.
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